VANCOUVER, British Columbia, March 10, 2025 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) announces that it has filed notice of a meeting of shareholders, a management information circular, and related documents (collectively, the “Meeting Materials”) to convene a special meeting (the “Meeting”) of shareholders. The Meeting will take place on March 31, 2025 at 10:00 AM (Vancouver Time). Copies of the Meeting Materials are available for review under the profile for the Company on SEDAR+ (www.sedarplus.ca) and on Anfield’s corporate website (https://anfieldenergy.com).
The Meeting has been convened to seek shareholder approval for a consolidation (the “Consolidation”) of the Company’s common shares (“Shares”) on the basis of one new Share for up to 200 currently issued and outstanding Shares, or such lesser ratio as the directors may deem appropriate. The Company currently has 1,141,372,490 Shares outstanding and, if the Consolidation was completed at the maximum ratio, it would have approximately 5,706,862 Shares outstanding following completion.
The Consolidation is being pursued as a necessary step to qualify for the listing of Anfield’s shares on The Nasdaq Stock Market LLC (“NASDAQ”). In addition to convening the Meeting and pursuing the Consolidation, Anfield has taken the following steps:
1) Engaged US counsel to prepare a US registration statement and NASDAQ listing application;
2) Directed Anfield’s auditors to both complete their audit of the Company’s 2024 financial statements and review the Company’s 2023 financial statements under US PCAOB standards; and
3) Directed the completion of technical reports for the Velvet-Wood, Slick Rock and West Slope projects under US SK 1300 standards.
Corey Dias, Anfield’s CEO commented: “We are very pleased to advance our pursuit of a NASDAQ listing. Upon receiving approval from shareholders for the Consolidation, our aim is to complete the above steps within the next 30 days in order to advance our application to the NASDAQ. With all of Anfield’s assets located in the United States, and with the United States having the largest installed nuclear reactor base worldwide but producing less than 1% of required uranium, we believe the Company is well positioned to attract additional US investor interest.”
Readers are cautioned that while the Company intends to pursue a listing on NASDAQ at this time, it has not yet submitted an application for listing, and completion of a listing is subject to regulatory approvals and the satisfaction of applicable listing requirements. There can be no assurance that a listing will be completed, and the Company may elect not to proceed with a listing at any time. In the event a listing is completed it is contemplated that the Shares would continue to trade in Canada on the TSX Venture Exchange.
Assuming shareholder approval for the Consolidation is received, completion of the Consolidation remains subject to the board of directors determining a final ratio, the satisfaction of applicable public distribution requirements and the approval of the TSX Venture Exchange. Completion of the Consolidation is not contingent upon completion of a listing on NASDAQ, and the Company may elect to complete the Consolidation in advance of any listing. The name of the Company, and its existing ticker symbol, are not expected to change in connection with the Consolidation.
AboutAnfield
Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD).
On behalf of the Board of Directors
ANFIELD ENERGY INC. Corey Dias, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated completion of the Consolidation and the pursuit of a listing on a US stock exchange.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will receive shareholder approval for the Consolidation; that the Company will receive regulatory approval for the Consolidation; and that the Company will be able to pursue a listing on a US stock exchange. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the risk that the Company may not use the proceeds of the Equity Financing as currently anticipated; that the Company may not receive regulatory approval with respect to the Equity Financing; the risk that the Company may not have the resources, or may otherwise be unable to pursue a listing on a US stock exchange; risks relating to the actual results of the Company’s operational activities, fluctuating commodity prices, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. We seek safe harbor.
